Solar Explosives declares dividend
Solar Explosives declares dividend The members of Solar Explosives, at the annual general meeting (AGM) held on Sep. 26, 2007, declared dividend of Rs 1.50 a share. The company disclosed a good increase in net profit for the quarter ended June 2007. During the quarter, the company experienced a 27.77% rise in profit to Rs 38.92 million from Rs 30.46 million in the same quarter last year. Net sales for the quarter rose 42.83% to Rs 388.54 million compared with the corresponding quarter, a year ago.
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The company, instead of setting up manufacturing units for bulk explosive and cartridge explosive in Nigeria, reallocated it to Africa, Europe, Gulf, or India.
Shares of the company remained unchanged at Rs 207.00. The total volume of shares traded at the BSE was 6,348. (Wednesday).
